Negative Rates Won’t Rescue The Fed, Nor Will Pretending That Everything’s Fine
Desperation continues at the Fed. They’re expanding their balance sheet (again), but denying that it’s QE, despite the fact that they’ve added almost $200 billion to their balance sheet in just a matter of days. Fed Chair Powell is also out-and-about pretending that everything is just fine. Central planners always box themselves into a corner. Neither lies, nor more counterfeiting can fix the troubles they’ve created.